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Financial Crime
PEPs & Sanctions
OFAC Sanctions Iranians Over Cyber Attacks on US Water Plants
By Editors | 03/02/2024
No critical services were disrupted in the attacks, but OFAC said the US is “deeply concerned” about attacks that target critical infrastructures.
Anti-Money Laundering
US DOJ Unseals More Charges in BTC-e Case
By Editors | 03/02/2024
Aliaksandr Klimenka faces 25 years in prison for operating unlicensed money services business and laundering criminal proceeds.
Operational Risk
US OCC Fines RBC’s US Unit Over Risk Management Deficiencies
By Editors | 03/02/2024
A cease-and-desist order requires the bank to take “broad and comprehensive corrective actions” to improve its strategic planning and internal controls.
Anti-Money Laundering
Taiwan: FSC Fines Taichung Bank Following Arrest of Chairman
By Editors | 03/02/2024
The bank’s chairman was detained for allegedly embezzling TWD 1 billion and later released on bail, with restrictions.
Conduct, Culture & Accountability
US Fed Tightens Policy on Personal Investments by Staff
By Editors | 02/02/2024
Under the new policy, staff can be directed to submit brokerage and transaction statements to verify financial disclosure accuracy.
PEPs & Sanctions
Binance Faces Lawsuit from Hamas Victims for Facilitating Terrorism
By Editors | 02/02/2024
The lawsuit, which alleges that Binance enabled Hamas to finance the 7 October attacks, also names Iran and Syria as defendants.
Anti-Money Laundering
SkyCity Agrees to Pay More Than A$70m for AML Breaches
By Editors | 02/02/2024
AUSTRAC launched civil penalty proceedings against SkyCity Adelaide in December 2022. The casino operator just raised its provision for the potential penalty.
Trading & Investment
ASIC Issues New Guidance on Pre-Hedging Practices
By Editors | 02/02/2024
If not carried out in an appropriate manner, pre-hedging can be unfair, unconscionable and result in poor client outcomes, ASIC said.
PEPs & Sanctions
Australia, UK Join US in Imposing New Myanmar Sanctions
By Editors | 02/02/2024
The sanctions come three years after the military coup in Myanmar. Australia and the UK targeted a combined nine entities.
Fraud, Scams & Cybercrime
Singapore Authorities Warn Against ‘Crypto Drainer’ Malware Threat
By Ranamita Chakraborty | 02/02/2024
The SPF and CSA recommend using hardware crypto wallets and verifying the legitimacy of smart contracts before interacting with them.
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